Red Mango Receives $12 Million in Yogurt-War Funding

Sure, Pinkberry may have the benefit of an AmEx Plum Card (“We know you spend a lot on your swirly business,” goes the television ad), but rival Red Mango is receiving an influx of $12 million, according to a press release sent to us by Elizabeth Berry (like McDonald’s rep Zoe Hamburger, Ms. Berry is aptly named for her job). The investment is led by John Antioco and private-equity firm CIC partners. Antioco, who will become chairman of Red Mango’s board of investors, was previously chairman and CEO of Blockbuster, Taco Bell, and Circle K. A quotation from Red Mango founder Dan Kim: “We were very selective in choosing an investment partner who shared our passion for creating delicious and nutritious desserts for people who want to eat well and look good.” Red Mango is looking very good indeed.